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, the federal government for the $10 a shake jpmorgan got not only bear stearns' assets but liabilities, including, authorities say responsibility four some of the most egregious conduct in the financial crisis you churning out residential mortgages by the thousands, bundling them into what the firm told investors were quality securities, knowing all along many of the mortgages were duds a systemic fraud on thousands of investors, the lawsuit says, deceiving them about the fundamentally defective character of the mortgages and went housing bubble burst, those investors are suffered monumental loss, jpmorgan plans to contest the suit and disappointed with the ag for bringing the case and says it is the first product of a presidential working group on american securities fraud formed in january. today in washington, officials signal it had won't be the last case. sue? >> scott, stay with me. we are going to talk about this joining us first on cnbc to discuss the lawsuit is new york attorney general eric schneiderman. welcome, sir, pleasure to have you back with us on "power lunch." >> tha
grows at its fastest rate in seven months, while the government gets set to take another swing at boosting it through foreign investments. thanks very much for joining me. anyone that's missing ross, he'll be back in tomorrow. but for now, you're all mine. . plenty to come on the next couple hours of the show. lots of guests to help us figure out what's going on. we'll get a view from sydney about cautious shoppers. borrowing costs are expected to fall. we'll bring you those results from madrid. and we'll head out to malaysia for an exclusive interview with the country's prime minister. >>> it's very presidential music to bringis to this topic, which is really dominating the headlines today. president obama and republican rival mitt romney met face to face last night in denver, colorado for their first u.s. presidential debate. it really focused mostly on the economy. with a mnt to onth to go before election, both men had to prove to voters that they're the right man for the country. john harwood got a firsthand view of the debate and filed this report from denver. >> the first
the relationship between this corporation is and the chinese government. it's been a key question. but for all of the questioning, a lot of it is conjecture. this aren't that many hard facts here, something i did ask chairman rogers about earlier today. >> we've had information from former and current huawei employees. we have both classified information. our foreign partners, australians and the british and others have passed along information they've seen whether it comes to huawei's activities which i think is a very clear indication i have no problem saying i would not use huawei equipment. i'd find other vendors. if you care about your consumer's data and the national security of the united states you need to look elsewhere. >> of course if you do believe, as i do, given my reporting on it, that the chinese are incredibly aggressive when it comes to cyber espionage, sue, and then you believe much wlaf of what is in this report, you certainly come to the conclusion if there is a telecommunications company that's becoming somewhat dominant around the globe that has the backing of or certain
, and it will bei be not much else other than more government spending. and that won't make the difference. so i think fiscal uncertainty has to be removed in order for the corporates to spend the huge amount of cash that they're holding. and at this point not investing. the fiscal -- i don't want to call it the fiscal cliff because that's not so important. the question is getting certainty into the situation for corporates to invest again. >> okay, good to have you on on. plenty more to come from you. but what do you think the jobs number will be? let us know. e-mail or tweet us. so just over an hour into the trading day here in europe. let's show you where we stand. just weighted to the up side. pretty flat day for european stocks. 6:4 advancers currently outpacing decliners. we are a quarter percent higher on the ibex, as well. let's show you where we stand. yields are still below 6%. 5.8% mar begin alley higher. we'll keep our eyes on u.s. yields. we got down to 1.66 is where we stand at the moment on those u.s. ten years, as well. as far as currency markets are concerned, euro-dollar just h
. this as the spanish government is apparently ready to ask for a full bailout, but is being told to wait by germany. angela merkel is reluctant to put more aid requests in front of her parliament, both sides have denied that story. but it does come just a day after meeting between the eu and sm spanish economics minister. julia is in madrid with her own thoughts on this. you heard jim says it's only a matter of time really, so we just have to work out when. >>> that's certainly what the markets expect. also the message is that it's really difficult for the germans to say, hey, these three separate times on greece, cypress and perhaps on spain particularly after they've just received the banking bailout. the biggest shift seem to be in perhaps the spanish sentiment in this article that they're ready to ask as early as this week. so critical to him. they have to think of a bailout and also the enhanced credit line. it doesn't really make a distinction between the two. but of course the budget that we got at the end of last week suggested that they were laying the foundations of course for aid and of
, a lot of government jobs added. but for some reason, i've always been told you need 200 to 250 to make a dent. 114 got a 300 basis point drop? it's crazy. and there's a reason -- you know what they're calling people that are saying this. they're calling help truthers. throwing them in with the birthers. >> i don't believe that there was conspiracy to make the jobs number -- >> i know that. and anyone that says that will be called a truther. so you don't say the government's lying. you can't say that. yet if you add in two months more government workers than at any it time since 1948 for the past two months, the government can do -- >> but that goes to his point the u-6 number is -- i don't know if it's more accurate. >> it's broader and takes in to account the part-time workers that don't want to be part-time. they want the full-time job. so it's a broader measure of giving us the breadth of the labor market and the health of it and that's why when i say the unchanged number, i sort of ignored the headline number and didn't think it was that big of a deal. >> normally we'd focus on the
. i think the numbers are not actually accurate that the government projects there. but the last four months was remarkable because usually equities and growth, you know, merge together. sometimes equities anticipates it. sometimes it lags. but growth numbers keep falling. and yet the equity market keeps rising. i think the s&p is now -- should be thought of as a different sort of class of instrument used by investors around the world. i think now that the yield of the ten-year or of corporate credit, i think it hasn't been this tight since the '50s. and i think therefore if you look at it on a yield basis and if you believe that multinationals, leading multinational companies will have enough growth to have growth, and i think that's actually true, because global growth, from a consumer standpoint and spending is going to be positive, then in a way these equities are mispriced relative to, you know, the ten-year. >> so you're talking about the idea which we've seen in force, buying these larger stocks that have significant dividend yields, you think that's creating a new dynamic, tho
government austerity cuts. pensioners clashed with riot police and burned an eu flag. german chancellor angela merkel is scheduled to arrive in athens at about 6:30 eastern time today for a six hour visit. police banned protests in most of central athens and 6,000 officers are trying to keep control. this is merkel's first stop will greece since the debt crisis kree resulted back in 2009. and carolyn roth will be joining us live. >>> and both president obama and mitt roy in will be in ohio today. voters in the swing state are getting their last chance to register for next month's election. the polls are now all over the map. pew has romney up four points, but gallup says the positive jobs report gave president obama a five point boost. among our guests, ken langone and donald trump. and focusing on issues of foreign policy and national security, we have senator john mccain. and by the way, if you went to sleep early last night, the texans beat the jets 23-17. this win brings the texans perfect record this season to 5-0. we will have more in squawk sports. first andrew has the morning's
a number of banks as too big to fail and they're effectively guaranteed by the federal government. this is the biggest kiss that's been given to new york banks i've ever seen. >> i talked to one banking lobbyist here in town today. his reaction, he said folks were puzzled by that. even romney is beating up on the banks. one thing that unites democrats and republicans is beating up on the big banks. so, sue, here in washington, lobbyists for the banking industry watching that slightly askance. but i think there is a sense that a lot of this is political and doesn't necessarily imply how romney would necessarily govern as president of the united states. >> indeed. i think you are absolutely right. thank you. >>> so our poll question today -- do you think last night's debate will change the outcome of the campaign? vote by going to cnbc.com. the results are coming up a little later in "power lunch." >>> next though, seema mody joins us with a market flash. >> hi, sue. we're calling it the romney effect. sectors moving on the back of what mitt romney said in last night's debate. we sp
the government could cover the cost that companies would face if they run into legal troubles for not properly warning those workers. here's the federal law and what it says. it says that companies with 100 or more workers must provide 60 days notice before mass layoffs or plant closings, or those workers can get up to 60 days of back pay if they are not notified. the republicans are crying foul and eamon javers picks under the story. >> reporter: here's what the omb said in late september -- it is neither necessary or appropriate for federal contractors to provide warn act notice to employees 60 days in advance of the potential sequestration because of the uncertainty about whether sequestration will occur. i've toualked to employees at t white house and omb about this question. their idea is this -- first of all, there's uncertainty about the fiscal cliff itself, whether it is actually going to happen or not. they say that the warn act is only required for those planning specific cutbacks and specific plant closings and they say since the employers in this case federal contractors don't know
to the ec. >> about the ecb gives back the cash, the german government pay backed ecb. >> will be law andered? >> it will be laundered money, exactly. >> simon, what do you think? >> or extend the maturities that is the other possibilities. >> i have heard that this -- they begged for that absolutely right, keep asking and the ecb keeps saying no. >> most people think in the end, the way it is going to happen is through the laundered system through the back door, through the central banks. >> what about spain, michelle some people were posing the question that the greece certain lives the story of the day today with the protests, with ms. merkel going to greece, but spain really is what we need to be focused more on. do you agree with that? >> much bigger, much bigger in size. greece, in the end, is the bigger pictures that we see on television, but when it comes to the actual amount of money, the european union could actually handle that cost. spain is much, much bigger. >> thank you, michelle. simon, over to you. >> also watching, as you will be aware, sue, apple, very closely today
of a government-insured reverse mortgage. it will eliminate your monthly mortgage payments and give you tax-free cash from the equity in your home. and here's the best part -- you still own your home. take control of your retirement today. ♪ ♪ >>> it is time. it is time for the lightning round. we play until we hear the sound and the lightning round is over. are you ready, skedaddy? start with rob in new york. >> caller: how you doing, jim. my question about sketchers? >> sell, sell, sell. it's sink'ing like a stone. i don't want skechers or deckers. > >>>. >> ken in california, what's up? >> caller: thank you for your help and guidance. love your show. jim, a vnbbott labs, is it overbought at this point? >> we were discussing this, i say you can't buy it here, steph. have to let it pull back. let it pull back to the mid 60s, but it is going to split. a great situation, but you're paying up too much right here. fred in new york. fred. >> caller: fred in new york, booyah. cypress semiconductor? >> oh, fred. we can say the same thing about intel. intel yields 4%. i see no reason to own cy
tourism seasons in years. we've shared what we've learned with governments and across the industry so we can all produce energy more safely. i want you to know, there's another commitment bp takes just as seriously: our commitment to america. bp supports nearly two-hundred-fifty thousand jobs in communities across the country. we hired three thousand people just last year. bp invests more in america than in any other country. in fact, over the last five years, no other energy company has invested more in the us than bp. we're working to fuel america for generations to come. today, our commitment to the gulf, and to america, has never been stronger. >>> it is time. it is time for the lightning round! we play until we hear this sound, and then the lightning round is over! are you ready, skedaddy? let's start with rob in new york. >> caller: how you doing, jim. my question about skechers? >> sell, sell, sell. it's sink'ing like a stone. i don't want skechers or deckers. >> ken in california, what's up? >> caller: thank you for your help and guidance. love your show. jim, abbott labs, is it
Search Results 0 to 12 of about 13